|
|
Edited by Ritu13 at 22-12-2023 01:57 PM
Clayton began by clarifying that he was speaking in a "personal capacity" on that day, not as a representative of the SEC. He then commented on the question of whether the sale of tokens during an ICO constitutes a securities offering, stating, "If you raise money by selling tokens for a company, you should start with the assumption that it's a securities offering."
However, Clayton acknowledged that in certain situations, the classification of some token types may not be clearly defined. When asked about "the startup company Ripple and its digital asset XRP," Clayton only responded with, "Some questions require a lot of information to answer," without further discussing the topic.
On the other hand, according to Clayton, there are many issuance methods in the market that are quite obvious. For instance, "I sell you tokens, and then I use the funds to start a business, hoping the tokens you purchased will bring you returns."
Clayton also offered some advice for those looking to promote tokens to potential investors: "If there's a gap between what you're telling the SEC and what you're telling your investors, that's not a good place to start." When asked about "two cryptocurrency startups that recently settled charges with the SEC for conducting unregistered offerings of securities through ICOs," Clayton clarified that the settlements were specific to certain companies, and compliance is currently underway, emphasizing that settlements are specific to individual cases.
He further explained that in this specific circumstance, people should understand that it's a remedial measure. However, in the future, the remedies for such cases might differ, so "it's time to review your actions." |
|
Post time 10-12-2023 12:22:04